Articles & Videos

Lost in Translation — Understanding Terms Found in Common Business Interruption Policies

October 9th, 2017|BUSINESS CONSULTING, DISASTER RECOVERY|

Hurricanes and other disasters – floods, earthquakes, tornadoes, and even cyber attacks or power outages –  can cause devastation to businesses and disrupt their operations. Business owners who have had to close shop due to an unexpected disaster should review their commercial insurance policies to determine if they have a business interruption rider. While reviewing [...]

Why Donating to Disaster Relief Can Have Optimal Tax Benefits

October 3rd, 2017|DISASTER RECOVERY, INDIVIDUAL TAX|

If you were fortunate enough to have not been impacted by Hurricane Irma or Hurricane Harvey’s wrath, why not consider making a charitable donation to the victims? There are several “smart” ways to make a contribution that will help provide disaster relief and also get you tax deductions and other rewards for your generosity. While [...]

Corpus Christi’s FVBK Joins CRI

October 2nd, 2017|NEWS, PRESS RELEASES|

CORPUS CHRISTI, TX  – After 45+ years of service operating as Flusche, Van Beveren, Kilgore, PC (FVBK), the firm has merged with top 20 CPA and advisory firm Carr, Riggs & Ingram, LLC (CRI). The FVBK team joins CRI’s existing Corpus Christi office and the firm’s more than 1,800 CRI professionals currently serving clients across the [...]

Business Interruption Claims Can Help Businesses “Resume Flight” Following Unexpected Disaster Delays

October 1st, 2017|BUSINESS CONSULTING, DISASTER RECOVERY, OCTOBER 2017|

If you’re traveling somewhere by airplane, perhaps one of the worst things that can happen to you at the airport is missing your scheduled flight. Your two big questions are probably 1.) When can I get on the next flight and resume my journey? and 2.) How much money is missing that flight and getting [...]

Disaster Victim? Having the Right Insurance “Security Blanket” Can Be Key to Financial Recovery

September 29th, 2017|DISASTER PREPARATION, DISASTER RECOVERY, INDIVIDUAL PLANNING|

Hurricanes Harvey and Irma are events that for many will define 2017. Those victims in the path of the storms entered into a blur of activity preparing for their arrival — securing their homes, boarding their businesses, buying supplies, and finding safe spots for their loved ones. When a disaster of any kind damages a [...]

Don’t Let These 7 Tax Terms Scare You

September 26th, 2017|INDIVIDUAL TAX, OCTOBER 2017|

It’s that time of the year when neighbors hang ghosts in their front yard, cobwebs and witches adorn the breakroom, and jack-o’-lanterns are on every corner. That eerie vibe shouldn’t carry over into tax-planning season, though. Take a few minutes to familiarize yourself with these common tax terms so that they don’t spook you! 1.     [...]

Summon These Superheroes to Protect You From the Equifax Breach

September 26th, 2017|CYBERSECURITY, INDIVIDUAL TAX, OCTOBER 2017|

On July 29, 2017, the world could have used a cyber superhero to save millions of Equifax customers from an Equifax security breach. Data items such as social security numbers, birthdates, addresses, and credit card information were exposed – stolen! – through a vulnerability introduced in a patching process for a website application. This type [...]

Tax Deadlines Extended for Hurricane Harvey Victims

September 13th, 2017|BUSINESS TAX, DISASTER RECOVERY, INDIVIDUAL TAX|

Highlights of Texas Taxpayer Relief Due to Recent Storms and Floods **Updated 9/29/2017** As anticipated, the IRS is providing disaster relief to Hurricane Harvey victims - individuals, businesses, and relief workers. The IRS has granted automatic extensions for several tax-filing and tax-payment deadlines to qualifying taxpayers in the following counties: Aransas, Austin, Bastrop, Bee, Bexar, Brazoria, [...]

IRS Announces Tax Relief for Hurricane Irma Victims

September 12th, 2017|BUSINESS TAX, DISASTER RECOVERY, INDIVIDUAL TAX|

**Updated: 9/20/17** Hurricane Irma's record-breaking size, speed, and endurance recently precipitated billions of dollars of damage, and her timing couldn't have been worse for U.S. victims with fast-approaching tax filing deadlines. To help, the IRS has announced that it will provide tax relief to qualifying taxpayers in the Presidential Disaster Areas, as well as areas identified by the [...]

5 Steps to Help in Disaster Preparation

September 11th, 2017|BUSINESS CONSULTING, DISASTER PREPARATION|

Backup electronic accounting records. Accounting records can include anything from accounting software to spreadsheets that are used for budgeting. Consider subscribing to a cloud-based storage service, or — at a minimum — store your backup data in multiple locations. Backup electronic records regularly to ensure data remains current and easily recoverable. Protect computers and [...]

Use These 6 Questions to Evaluate Your Cybersecurity Practices

August 30th, 2017|CYBERSECURITY, VIDEO|

A strong cybersecurity posture consists of effective measures related to prevention, assessment, detection, response, and recovery. But how can you determine whether your company is succeeding in these areas? Watch as Lorri Kidder discusses key questions that can help you evaluate your company’s cybersecurity defense system.

An AUP or an Audit: Which Way Should You Go?

August 30th, 2017|AGREED UPON PROCEDURES, AUDITS, REVIEWS & COMPILATIONS, SEPTEMBER 2017|

The public accounting profession offers a number of services, making it difficult for many to understand which direction is best for a particular need. Two services that are often confused are audits and agreed-upon procedures (AUPs). An AUP engagement offers the client greater flexibility than what a traditional audit can provide. It is likely to [...]

Back to Partnership School: Review and Update Your Agreement

August 28th, 2017|BUSINESS TAX, SEPTEMBER 2017|

Some people struggle in September as they transition from summer to back-to-school routines. Similarly, amending a partnership agreement takes work, time, and adjustment—and is also likely a task that most of those involved would choose to avoid. It’s hard enough the first time to agree on all the items contained in the agreement – not [...]

Does Your Household Have a Home Team? Remember Your Employee Tax Obligations

August 11th, 2017|BUSINESS TAX, SEPTEMBER 2017|

Many families have built themselves a home team. Their players include nannies, housekeepers, cooks, gardeners, or health care workers, and they often come with tax obligations with which the families must follow to comply with IRS requirements. BATTER UP!  Not everyone who works at someone’s home is considered a household employee for tax purposes. To [...]

Risk-Focused Insurance Examinations: 10 Years Old But They Feel Brand New

August 1st, 2017|INSURANCE|

More than a decade has passed since the National Association of Insurance Commissioners (NAIC) introduced us to the risk-focused examination process. Although this process has been in place for some time, insurance regulators and examiners must remain cognizant of emerging requirements and issues, as they have been plentiful and ever-changing in this area. By paying attention to updates, examiners can properly identify, [...]

CRI Webinar: Forms 1094 & 1095 Affordable Care Act ACA Tea Party

July 27th, 2017|AFFORDABLE CARE ACT (ACA) COMPLIANCE, WEBINAR|

The ACA requires employers to rethink many aspects of providing health insurance coverage to their employees. First, employers must determine if they are subject to the ACA rules and employer penalties may result from failure to offer affordable coverage or failure to properly report coverage. If you are looking for more details on [...]

Up Next at Auction: Make a Winning Bid Using Mortgage Interest Points

July 26th, 2017|AUGUST 2017, INDIVIDUAL TAX|

When a lender offers the next item up for bid – a brand spanking new mortgage! – a working knowledge of mortgage interest points can help a borrower come in with the strongest bid. Going once: Understanding mortgage interest points Mortgage interest points are payments made by a borrower to the lender when securing a [...]

Why Fair Value is Becoming a Popular “Celebrity” in the Accounting Profession

July 26th, 2017|AUDITS, REVIEWS & COMPILATIONS, AUGUST 2017|

Entertainment magazine fans probably see the same popular celebrities in issue after issue. Similarly, those who stay up-to-date on current accounting issues probably stumble upon a new article about the fair value standard almost every week. The reason for this increased focus is relevance. The question constantly posed by accounting practitioners, academics, and users of financial [...]

4 Trigger Events That Might Help You “Find” Money Using a Reverse Audit

July 25th, 2017|STATE & LOCAL TAX, VIDEO|

While the word “audit” may sound scary in certain contexts, a reverse audit may help a company obtain a refund for overpaid state sales and use taxes. But when might a business consider such an engagement? Watch as Amy Hightower describes four instances in which it may be best to evaluate the potential [...]

Why the Solar Tax Credits Could Brighten Your Day

July 25th, 2017|AUGUST 2017, TAX SPECIALTY SERVICES|

The sun is arguably the most important star in the solar system. Among other functions, it provides light and warmth, helps plants survive, and is an abundant source of Vitamin D. While the sun’s biological benefits are readily apparent, what may be less obvious is how the sun’s presence could impact tax refunds. Thanks to [...]